Friday, June 27, 2008

Time to sell the holiday home!

The end of the global house price boom

Only 13 countries in which dwelling price indices are regularly published saw prices rise during the year to end Q1 2008, while 21 countries saw dwelling prices fall in real terms, i.e., after adjusting for inflation. The biggest house price fall was in Latvia (Riga), down -38.2% by May 2008 from a year earlier. The cause of the downturn is blamed on the boom, inflation and bad regulation of banks.

Posted by who stole my pension? @ 06:14 AM (805 views)
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3 thoughts on “Time to sell the holiday home!

  • What a load of tosh! – It shows Spain as less than -1% YoY and we know that this is really much much worse than this. Says it all really – trying to paint a least bad picture – more like silk purse and sow’s ear to me.

    HAL

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  • Interesting stats – if they can fall by 38% in Riga in one year, why can’t the same happen here?

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  • funny really that bit about Riga, only a few months ago the papers were telling people to buy there… wonder why?? maybe the reporter had a hol home there

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